{"id":91,"date":"2024-08-21T13:48:06","date_gmt":"2024-08-21T13:48:06","guid":{"rendered":"https:\/\/blog.dhavalkakadiyaandassociates.com\/?p=91"},"modified":"2024-08-21T13:59:43","modified_gmt":"2024-08-21T13:59:43","slug":"essential-information-for-starting-a-business","status":"publish","type":"post","link":"https:\/\/blog.dhavalkakadiyaandassociates.com\/index.php\/2024\/08\/21\/essential-information-for-starting-a-business\/","title":{"rendered":"ESSENTIAL INFORMATION FOR STARTING A BUSINESS"},"content":{"rendered":"\n

1) Choosing structure of your business:
<\/strong>Typically, there are following major structure to do business in India:
1) Sole Proprietorship
2) Hindu Undivided Family (HUF)
3) Partnership firm
4) Limited Liability Partnership
5) Company
Choosing a structure wisely is important because of various factors like liability of business
owners, taxation and other regulatory reasons.<\/p>\n\n\n\n


2) Awareness of tax laws:
<\/strong>It is important to make sure you are aware about the taxes and levies that your business faces.
Usually, any business in India is bound to comply with Income Tax, Goods and Services Tax,
Profession tax and other levies. Income Tax and GST is regulated by Central government while
professional tax is usually levied by local municipal authority.<\/p>\n\n\n\n


3) Labour law compliances:
<\/strong>Business establishments having employee above specified threshold limit are required to
comply with Provident fund and Employee state insurance law. It is important to know labour
related compliances applicable to your business depending upon the state a business operates
in.<\/p>\n\n\n\n


4) Industry\/Business specific regulations:
<\/strong>There are various other regulations relating to industry that a business operated in. FSSAI
registration is required for Food Industry. A pharma business will be required to have Food
Safety and Drug Administration. A factory might be required to have local pollution control
board license. Registration under Factory Act may be required.<\/p>\n\n\n\n

5) Other licenses:
<\/strong>There are following other licenses that a business might have to apply for:
i) Importer and Exporter Code: For a business engaged in import or export of goods and
services.
ii) Udhyam Aadhaar: For Micro, Small and Medium entreprises.
iii) Shop and Establishment license: It is regulated by local municipal body for businesses
operating in area under its jurisdiction.<\/p>\n\n\n\n

Disclaimer: The list here might not be exhaustive. We would advise you to do your own research.<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"

1) Choosing structure of your business:Typically, there are following major structure to do business in India:1) Sole Proprietorship2) Hindu Undivided Family (HUF)3) Partnership firm4) Limited Liability Partnership5) CompanyChoosing a structure wisely is important because of various factors like liability of businessowners, taxation and other regulatory reasons. 2) Awareness of tax laws:It is important to make […]<\/p>\n","protected":false},"author":1,"featured_media":92,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[],"class_list":["post-91","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-informative"],"jetpack_featured_media_url":"https:\/\/blog.dhavalkakadiyaandassociates.com\/wp-content\/uploads\/2024\/08\/9363.jpg","_links":{"self":[{"href":"https:\/\/blog.dhavalkakadiyaandassociates.com\/index.php\/wp-json\/wp\/v2\/posts\/91","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/blog.dhavalkakadiyaandassociates.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/blog.dhavalkakadiyaandassociates.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/blog.dhavalkakadiyaandassociates.com\/index.php\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/blog.dhavalkakadiyaandassociates.com\/index.php\/wp-json\/wp\/v2\/comments?post=91"}],"version-history":[{"count":2,"href":"https:\/\/blog.dhavalkakadiyaandassociates.com\/index.php\/wp-json\/wp\/v2\/posts\/91\/revisions"}],"predecessor-version":[{"id":94,"href":"https:\/\/blog.dhavalkakadiyaandassociates.com\/index.php\/wp-json\/wp\/v2\/posts\/91\/revisions\/94"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/blog.dhavalkakadiyaandassociates.com\/index.php\/wp-json\/wp\/v2\/media\/92"}],"wp:attachment":[{"href":"https:\/\/blog.dhavalkakadiyaandassociates.com\/index.php\/wp-json\/wp\/v2\/media?parent=91"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/blog.dhavalkakadiyaandassociates.com\/index.php\/wp-json\/wp\/v2\/categories?post=91"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/blog.dhavalkakadiyaandassociates.com\/index.php\/wp-json\/wp\/v2\/tags?post=91"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}